# Lockheed Martin (LMT) shares remain in focus after the defense giant announced a $4.7 billion Army contract to accelerate the production of PAC-3 MSE interceptors.

*business · news · 2026-04-13 · Barchart*

## Key points

- Lockheed Martin secured a $4.7 billion Army contract to accelerate PAC-3 MSE interceptor production.
- The contract reflects a shift from 'just in time' to 'just in case' defense procurement strategies.
- Lockheed Martin entered 2026 with a record $194 billion backlog, outpacing most industrial peers.
- At 21x forward earnings, LMT trades at a discount to RTX Corp and Northrup Grumman.
- Jefferies raised its price target to $640, citing a 25% projected profit boost in the missile division.

**Companies:** Lockheed Martin, RTX Corp, Northrop Grumman
**Countries:** United States

[Read the full story on Barchart](https://www.barchart.com/story/news/1274644/lockheed-martin-just-scored-a-4-7-billion-army-contract-does-that-make-lmt-stock-a-buy)

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